Sugar remains weak on low demand, adequate supply

Sugar remained under pressure and prices declined further by 1.05 per cent to Rs 2,539 per quintal in futures trade today as speculators engaged in trimming positions amidst ample stocks positions on persistent supplies by mills against weak demand from bulk consumers.
At the National Commodity and Derivatives Exchange, sugar for delivery in current month fell by Rs 27, or 1.05 per cent, to Rs 2,539 per quintal with an open interest of 1,210 lots.
Likewise, the sweetener for delivery in May 2015 traded lower by Rs 21, or 0.77 per cent, to Rs 2,711 per quintal in 18,380 lots.

Market analysts said offloading of positions by speculators, triggered by higher supplies from millers in the physical market amid low demand from bulk consumer, kept pressure on sugar prices at futures trade.